MGIT Prelim Reviewer PDF

MGIT Kinds Of Systems Found in An Organization: 1. Enterprise Resource Planning - Refers to integrated programs that can manage a company’s entire set of business operations. 2. Management Information System - Used to provide routine information to help managers plan, control, and m...

MGIT Kinds Of Systems Found in An Organization: 1. Enterprise Resource Planning - Refers to integrated programs that can manage a company’s entire set of business operations. 2. Management Information System - Used to provide routine information to help managers plan, control, and make decisions. 3. Decision Support System - Used to support decision making and suggests and compares alternatives. 4. Expert Systems - This gives the computers the ability to make suggestions and act like an expert in a particular field such as medical diagnoses and repair problems. 5. System Development - This refers to the activity of creating or modifying existing business systems with the objectives of making the process manageable and achieving predictable costs and timing. 6. Value Chain - A series or chain of basic activities that add value to a firm’s products or services. 7. Strategy - A plan designed to help an organization gain a competitive advantage. 8. Strategic Information System - Information systems that help accomplish a strategy. 9. Organizational Culture - Set of shared beliefs and assumptions. 10. Network - A collection of computers and related equipment connected using communications equipment so that they can communicate with each other. 11. Local Area Networks (LAN) - A type of network that covers a small area such as a building. 12. Wide Area Networks (WAN) - A type of network that covers a large area such as a city, region, country, or several countries. 13. Internet - A worldwide collection of interconnected networks. 14. Information System (IS) - A collection of components that work together to provide information to help in the operations and management of an organization. 15. Information Technology - The integration of computers, communications equipment, and other technology used in information systems. 16. Hardware - Equipment such as computers. 17. Stored Data - Facts stores in the system. 18. Software - Instructions for the equipment. 19. Personnel - People who operate the system. 20. Inventory Control System - An example of an information system. 21. Input Function - Accepts the input data from outside the system. 22. Storage Function - Retains input data and retrieves stored data. 23. Processing Function - Calculates and manipulates the input and stored data. 24. Output Function - Produces results of processing for use outside the system. 25. Data - A representation of a fact, a number, a word, an image, a picture or a sound. 26. Information - Data that is meaningful or useful to someone. 27. Email - An example of a Workgroup information system. 28. Mainframe Computers - An example of an Organizational information systems. 29. Spreadsheet Or Financial Analysis - An example of a Personal Information Systems. 30. Electronic Data Interchange - An example of an Interorganizational information systems. 31. E-Commerce - Allows business and individuals to use networks, including the internet, to promote and sell products and services. 32. Ethics - This has to do with the standards of behavior that people follow – what is right and what is wrong. 33. Knowledge Management Systems - Support processes for acquiring, creating, storing, distributing, applying, integrating knowledge. 34. Customer Relationship Management Systems - Provides information to coordinate all of the business processes that deal with customers in sales, marketing, and service to optimize revenue, customer satisfaction, and customer retention. 35. Supply Chain Management Systems - Manage firm’s relationships with suppliers. 36. Enterprise Systems - Collects data from different firm functions and stores data in single central data repository. 37. Production Scheduling System - An example of a Global information system. 38. Transaction Processing Systems - Perform and record daily routine transactions necessary to conduct business. 39. Enterprise Applications - Span functional areas and execute business processes across firm. 40. Function IT - Facilitates standalone tasks using tools such as spreadsheets, word processors, CAD/CAM. 41. Decision Support Systems (DSS) - Computer program applications used by middle management to compile information from a wide range of sources to support problem solving and decision making. 42. Marketing Information Systems - Designed specifically for managing the marketing aspects of the business. 43. Enterprise IT - Imposes structured interactions like ERP, SCM, CRM. 44. Management Information Systems (MIS) - Produce fix, regularly scheduled reports based on data extracted and summarized from the firm’s underlying transaction processing systems to middle and operational level managers to identify and inform structured and semi-structured decision problems. 45. Network IT - Enables unstructured interactions. 46. Executive Information Systems (EIS) - A reporting tool that provides quick access to summarized reports coming from all company levels and departments. 47. Office Automation Systems (OAS) - Support communication and productivity in the enterprise by automating workflow and eliminating bottlenecks. This system can be implemented at any and all levels of management. 48. System - A functional unit, which involves set of procedures or functions to produce certain outputs by processing data or information given as input. 49. Closed System - A system that stands alone and has no connection to other systems. 50. Open System - A system that interfaces and interacts with other systems. 51. Open System - A system that gets information from and provides information to other systems. 52. System Variable - A quantity or item that can be controlled by the decision maker. 53. System Parameter - A value or quantity that cannot be controlled by the decision maker. 54. Selling Price is an example of System Variable 55. Raw Material Cost is an example of System Parameter 56. Transaction - Any business-related exchange which tends to be routinary and labor- intensive. 57. Transaction Processing System - Application of information technology to routine, repetitive, and usually ordinary business transaction. 58. E-Commerce - Any business transaction executed electronically between parties involving the exchange of goods and or services. 59. Artificial Intelligence - A field that involves computer systems taking on the characteristics of human intelligence. 60. Organizational Change - Process that alters the way an organization functions often associated with new information systems. 61. Reengineering - Radical design of business processes to achieve a significant breakthrough in business results. 62. Total Quality Management - Company-wide effort to add more value by empowering the employees, creating strategic vision for quality, giving keen awareness of customers, and rewarding for high quality. 63. Productivity - Measure of the output achieved divided by the input required. 64. Return of Investment - Profit or benefit as a percentage of investment. 65. Downsizing - Reducing the number of employees to cut costs. 66. Outsourcing - Contracting with outside professional services to meet specific business needs. 67. Bleeding Edge - A failure occurs because an organization tries to be too far out on the technological leading edge like Time-Warner’s Pathfinder portal. 68. Leading Edge - It lets the competitors test the new technology first like MS Word, Excel, Access, Edge. 69. Data – 1) Raw facts 2) Dead stored facts 3) Inactive (only exists in the backend) 4) Technology oriented 70. Information – 1) Processed facts 2) Live presented facts 3) Active (knowledge base) 4) Business oriented 71. Elements of Management – 1) Planning 2) Organizing 3) Directing 4) Coordinating 5) Controlling 72. Levels of Management – 1) Strategic 2) Tactics 3) Operations 73. Classification of Information – By use, source, time, form, level